Lake Conroe, Montgomery County and Conroe real estate and homes for sale in Texas, waterfront, golf course properties - The Scheib Team, REALTOR® The Scheib Team REALTOR(r) for Lake Conroe, Montgomery County and Conroe, Texas real estate, waterfront, golf course properties - NUMBER1EXPERT™ The Scheib Team NUMBER1EXPERT(tm) for Lake Conroe, Montgomery County and Conroe, Texas real estate, waterfront, golf course properties
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The Scheib Team, REALTORŪ, real estate agent and broker for Lake Conroe, Montgomery County and Conroe Texas home listings, property and land for sale - NUMBER1EXPERT(tm)

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Find out why we are the top real estate team in Montgomery County! Call us: 936-537-0189 to speak with Nick or 936-537-6467 to speak with Theresa.


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Real Estate Tips
Tax Considerations >Tax Rewards for Homeowners

The Federal Tax Code has significantly improved the American taxpayer's ability to profit by selling a principal residence. Prior to 1997, homeowners could take advantage of a tax benefit termed the "rollover", which granted exemption from capital gains taxes on the net profit from the sale of a home. Homeowners who used profits to purchase a bigger and better home did not have to pay tax. And homeowners over the age of 55 were given a once-in-a-lifetime exclusion from taxes on profits of up to $125,000 on the sale of their principal residence.

Compare those tax breaks with our current, streamlined and potentially more profitable arrangement that replaced both the rollover and the one-time exemption. If you are a married home-seller filing jointly, you may enjoy up to $500,000 in tax-free home sale profits, provided you have occupied the property as your principal residence during two of the last five years. Taxpayers who file singly get a $250,000 capital gains exclusion. Homeowners are eligible to exclude capital gains on the sale of a principal residence as often as once every two years.

The law allows capital gain exclusions whether you "buy up" to a more expensive home or "buy down" to a less expensive one. The tax-free dollars can be used in any way you want. Consult your tax advisor for detailed advice about your particular circumstance.

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Real Estate Trivia
Q 
Who is considered the world's most renowned living architect?

A 
I.M. Pei who retired in 1991; he earned this status after designing the glass pyramid entrance pavilion to the Louvre in Paris (1989).
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The Scheib Team, REALTORŪ, real estate agent and broker for Lake Conroe, Montgomery County and Conroe Texas home listings, property and land for sale - NUMBER1EXPERT(tm)

Nick and Theresa Scheib
The Scheib Team

Keller Williams Realty
3500 W.Davis Suite 150-B
Conroe, Texas 77304
Theresa Cell: 936-537-6467
Nick Cell: 936-537-0189
Fax: 936-448-6526
nickandtheresa@NUMBER1EXPERT.com

Expect The Best From the number one Real Estate Team in Montgomery, Texas!

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Keller Williams Realty 
of Lake Conroe real estate and homes for sale in Lake Conroe, Montgomery County and Conroe Texas

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